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Rare 1962 Ferrari Sells for Whopping $34 Million

FILE - In this March 13, 1990, file photo a landmark in racing car history, a 1962 Ferrari 250 Gran Turismo Berlinetta Competition "G.T.O.," is displayed in Bridgehampton, New York. A '62 Ferrari 250 GTO was sold during an auction on Thursday, Aug. 14, 2014, for more than $38 million at Monterey Car Week according to The Los Angeles Times. (AP Photo/Mario Suriani, File) AP Photo/Mario Suriani, File

CARMEL, Calif. (AP) — A rare 1962 Ferrari 250 GTO once owned by a famed racing driver and Olympic gold medalist has sold for $34.65 million.

FILE - In this March 13, 1990, file photo a landmark in racing car history, a 1962 Ferrari 250 Gran Turismo Berlinetta Competition "G.T.O.," is displayed in Bridgehampton, New York. (AP Photo/Mario Suriani, File)

Thursday's sale at an auction in California during Monterey Car Week is believed to be a record public auction price for a classic car, topping the nearly $30 million paid for a Mercedes W196 last year in England.

The Los Angeles Times reports the $38 million total price — including 10 percent buyer fees — is half of what experts said it could fetch. One example reportedly sold for $52 million in a private transaction.

The car is one of just 39 Ferrari GTOs produced and was once owned by racer and retired Olympic gold medal skier Henri Oreiller, who died after crashing it into a building.

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